Bitcoin continues to make headlines these days. PlanB analyst just dropped a pretty interesting tweet about Bitcoin’s realized cap.
#bitcoin realized cap is rising again! Realized cap is the average price at which all 18.77M BTC were last transacted (calculated over all utxo’s). Also, the few sellers at the moment sell at a profit (not a loss like in May and June). IMO this is bullish. pic.twitter.com/q3mhSZ19oH
— PlanB (@100trillionUSD) August 1, 2021
Someone said: “Thanks for the update, I forget to check realized cap over market cap all the time!”
Willy Woo had something to say about on-chain analysis.
On-chain analysis doesn’t need to be 100% right to be valid. Like TA, it’s just another tool for an analyst. Like TA, it can be mainly wrong if the analyst is unskilled.
In the hands of a good analyst it is right more often than not, and more reliable for long range than TA.
— Willy Woo (@woonomic) August 1, 2021
Everyone is buying BTC
Crypto analyst Willy Woo dropped some pretty interesting news about Bitcoin buyers from the past 8 days.
Check out the relevant tweet that he dropped below.
What makes the last 8 consecutive days very special from an on-chain perspective is that EVERYONE is buying, from shrimps to whales. We’ve not seen a pattern like this looking back 10 years.
— Willy Woo (@woonomic) July 31, 2021
Someone said: “Doesn’t the fact that the Glassnode entities data is lagging by 7 days interfere here?” and Woo responded with the following words.
Also, you should check out a relevant tweet about Bitcoin’s price that analyst Dave the Wave dropped not too long ago.
Price still in the trading range as predicted through to August [June 28 post above]. Amazingly went straight from the bottom of the range to the top. Your move BTC. pic.twitter.com/3c7KjlRcZf
— dave the wave🌊 (@davthewave) July 31, 2021
Stay tuned for more news.